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bossreggie
Guest
Bossreggie - I would be fascinated to know how you have managed what you have in your life. You have said you had a very simple upbringing and I am guessing that you are now extremely wealthy given the amount of J and F travel you do. I believe you are in property development (?) but would love to know your story of how you got there!?!
I think wealth is very relative. If James Packer woke up in the morning and had my wealth..... He'd probably jump off the Gap!
If someone on say, $150k woke up in the morning with my wealth.... They'd probably think they'd won the lotto!
I'd be happy to discuss "my story", but it's not something I'd do on a forum. Come to the AKL lunch or come along to a drinks night some time!!
Property is not how I made my money initially. I have a large commercial property portfolio which I have built up over the years. I had definitely focused on commercial property as the tenants pay all the outgoings. Also the rent is increased regularly. In the last couple of years I purchased a large number of residential properties from developers in SYD and MEL who were having difficulty selling them due to the GFC. As a cash buyer, I was able to purchase them at great prices, well under actual valuation, ensuring an excellent capital gain.
The best advice I could ever give someone at say, 20 - 25 years old, is to get into the property market. (not necessarily residential) I purchased my first apartment at 20 years old and I worked bloody hard to pay it off. Once you have some equity, then you are in a position to capitalise on an opportunity when one arises.
I hope that helps.